"Completely False, Malicious And Defamatory": SEBI Chief Madhabi Puri Buch On Allegations Against Her

Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch asserted on Friday that she had complied with all disclosure and recusal guidelines issued by the regulator.

In a personal statement, India's market regulator chief, Buch, categorically dismissed all the accusations against her, and labelled them as completely false, malicious, and derogatory.

Buch has been under fire from both US-based short-seller Hindenburg Research and opposition political parties in India, who have accused her of conflicts of interest in probes concerning the Adani Group and various other corporate bodies.

Addressing allegations about conflicts of interest with several listed firms, Buch clarified that she has never dealt with any file involving Agora Advisory, Agora Partners, the Mahindra Group, Pidilite, Dr Reddy’s, Alvarez & Marsal, Sembcorp, Visu Leasing, or ICICI Bank at any stage after joining SEBI.

Since joining SEBI as a whole time member in 2017, Madhabi Puri Buch consistently disclosed her shareholding in Agora Advisory, the statement noted adding that she has also transparently declared her shareholding in Agora Partners.

The statement added, “As evident from the above facts and the communications from the companies, the allegations are completely false, malicious and defamatory.”

On the allegation of rental income, the statement said, “There have been questions raised regarding the rental income received from a property owned by Madhabi and Dhaval. The property was leased out in the normal course. As it turned out subsequently, the lessee happened to be an associate of Wockhardt, a listed company which had come under investigation. Madhabi has not dealt with any files related to Wockhardt.”

Also Read: Muslim Quota Continues To Stir Tensions Between OBC Panel And Opposition-Ruled States—All You Need To Know